Opening Bell : RBI launches `consumer confidence` and `inflation expectations` surveys for monetary policy inputs
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The Reserve Bank of India (RBI) has launched two new surveys, ‘the Consumer Confidence Survey’ and ‘the Inflation Expectations Survey of Households’, aimed at providing crucial insights for the upcoming bi-monthly monetary policy. The RBI has been regularly conducting Inflation Expectations Survey of Households (IESH) and Consumer Confidence Survey (CCS). The May 2024 round of both the surveys has been launched. Scheduled for June 5-7, 2024, the next policy review will benefit from these surveys.
The Consumer Confidence Survey seeks qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households’ income and spending. The survey is conducted regularly in 19 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.
On the other hand, the Inflation Expectations Survey of Households seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates. The survey aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.
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